Accounting: Enron Scandal

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The Enron Corporation was one of the world’s largest natural gas and electricity companies in the world before the bankruptcy in 2001. The Enron Company was doing excellent in stock before the huge scandal. In 2001 the company started to suffer, huge amounts of losses and their stock prices crashed. There was many people involved in the scandal, one of the main people involved was David Duncan the main accountant.
David Duncan was an employee at the Arthur Anderson Company for over 20 years and started working at Enron since 1997. He was born in 1960 and He graduated from high school with honors after losing his father at the age of 18. After graduating high school he joined Arthur Andersen LLP out of Texas A&M University. Soon after getting the job to be an accountant David Duncan be came one of the youngest business partners in the world. He was making over one million dollars a year after he started working as an accountant.
The Enron Corporation was one of the largest businesses in the world with over 20,000 employees and making about $101 billion a year. David Duncan worked at Arthur Andersons LLP and was one of Enron main accountants. He was working at the Arthur Anderson Company for over 20 years and started to be Enron’s accountant in 1997. David was in charge of all the financial statements Enron had since he was the main accountant, all the financial statements and documents went through him. He was fired from Arthur Andersen in January 2002 for helping with the Enron scandal.
The Enron Scandal happened in 2001 and there were many people involved in the scandal including David Duncan. Enron’s main accountant was involved in the scandal by shredding documents and financial statements that would led to the conviction of...

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...oration used to be one of the biggest companies in the world before the scandal. During the scandal the people who worked at Enron were stealing money from the Enron Corporation without the public knowing it. The Enron company fell and the people who destroyed the company and who made millions/billions from it went to jail for around 5 to 15 years. This shows that the accountant is an important person in a business and you cannot trust anyone.

Works Cited

Work Sited:
1)http://usatoday30.usatoday.com/money/industries/energy/2006-05-25-enron-whos-who_x.htm
2)http://bodurtha.georgetown.edu/enron/How%20a%20Bright%20Star%20at%20Andersen%20Burned%20Out%20Along%20With%20Enron.htm
3) "David Duncan (accountant)." Wikipedia. Wikimedia Foundation, 04 Mar. 2014. Web. 08 Apr. 2014.
4) "Faces of the Enron Scandal: Where Are They Now?" CNBC.com. N.p., n.d. Web. 07 Apr. 2014.

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